Demand At Azerbaijan Central Bank's Currency Auction Grows
Date
11/5/2024 5:12:04 AM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, November 5. The Central Bank
of Azerbaijan (CBA) held yet another currency auction on November
5, Trend reports
via CBA.
According to the CBA's data, the auction saw a demand of $69.3
million, which was fully satisfied, and this marked a 5 percent
increase, equivalent to $3.3 million, compared to the previous
auction.
Meanwhile, the demand at the previous currency auction amounted
to $66 million.
The weighted average exchange rate at the end of the auction
amounted to 1.7 AZN/1 USD.
Since the start of the year, currency auctions have sold for a
total of $6.1 billion. The auction on February 13, 2024 recorded
the highest demand for currency at $151.1 million.
Moreover, currency auctions saw the purchase of approximately
$417.1 million in January 2024, $870.6 million in February, $498.3
million in March, $623.4 million in April, and $558.6 million in
May. $581 million in June, $597.1 million in July, $649.1 million
in August, $582.87 million in September, and $738.7 million in
October.
Note that a total of $3.836 billion was purchased at currency
auctions in 2023.
The CBA began conducting currency auctions by unilaterally
selling foreign currency under competitive conditions in
mid-January 2017.
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